Acharya Balkrishna, the man behind Patanjali Ayurved's stratospheric success, is unlike any traditional CEO. At 43, he may have many contemporaries, but his management style differs vastly. Although Balkrishna uses an iPhone, his work station doesn't have a computer. That's not all. Attired in a traditional white kurta and dhoti, he prefers to read from printouts stacked on his desk and speaks largely in pure Hindi.
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A confidante of Baba Ramdev, Balkrishna holds a 94% stake in Patanjali Ayurved, but he doesn't take home a salary. Yet, he works for 15 hours a day, even on Sundays and other holidays during the year. He claims he hasn't taken a single day's leave either. "I work daily from 7 am to 10 pm. While a normal person would work for 8 hours a day, I work for 15 hours through the week. I am doing the job of five people," Balkrishna told TOI in a recent interview at 'Sadbhawna', the head office which is basically an ayurvedic hospital.
Balkrishna believes it's this "hard work" that has enabled Patanjali Ayurved to become a Rs 5,000-crore company within a short span of time. Unlike other companies in FMCG, Patanjali Ayurved's marketing strategies have defied traditional norms. While other companies are cautious about new product launches, Patanjali has gone the whole hog, and has over 400 stock keeping units.
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Most companies conduct market research before entering new categories. Patanjali, on the other hand, has launched products in multiple categories almost simultaneously ¡ª be it toothpaste, biscuit or beauty care ¡ª with no external market research whatsoever. "Whatever we have made, we have kept the consumer need in mind. Nobody had thought that people will also drink amla juice," said Balkrishna.
Even its umbrella brand strategy where 'Patanjali' overarches all sub-brands is something marketing gurus advocate against. Balkrishna believes Patanjali has changed the consumer perception that Indian products are inferior to international products. "We don't need to follow the standard marketing practices. If your basics are strong, then nobody can beat you," Balkrishna said.
The company has now projected an audacious turnover target of Rs 10,000 crore in the current fiscal. Balkrishna is under pressure to accelerate the pace of growth. That's the reason why he doesn't believe in wasting time and has already placed orders for machinery even before zeroing in on the new plant sites.
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When he began the journey 10 years ago on personal loans, Balkrishna didn't think Patanjali would come this far. "I had to take Rs 50-60 crore personal loan. Prior to this, I did not even have a personal account in a bank," said Balkrishna.
NRI couple Sunita and Sarwan Poddar, followers of Ramdev, gave Balkrishna the first loan to kick-start the business. They have a 3% shareholding in Patanjali Ayurved, while the loan has since been repaid, said Balkrishna. He said there is no link between the trust (Patanjali Yogpeeth) and the company.
Balkrishna appears to have come out of the shadows of the past, when in 2011 a case of cheating was reportedly filed against him by the CBI. He was given a clean chit two years ago and has since emerged stronger. His adulation for Baba Ramdev comes across strongly and Balkrishna closely follows his guru's advice. Patanjali Ayurved will raise loans of Rs 700 crore from banks to fund its new investments in manufacturing. "Swamiji says, 'karz se kaam karo. Loan lene se dimag theek rehta hai'," he said.
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The work culture too is unique. Everyone is greeted with an 'Om'. There are restrictions on eating meat, smoking and drinking. However, Patanjali Ayurved boasts of a gender diversity ratio of 30:70. Patanjali is not a great pay master though. Balkrishna said people come to work here with a sentiment to serve.
To us, a workaholic Balkrishna didn't look a wee bit tired or sleep deprived. For someone who works 15 hours a day, what about work-life balance? "I enjoy it. It is like picnic for me," Balkrishna said, flashing a Dant Kanti smile.